Ethereum, BTC and other altcoins are still holding to their support levels. This indicates the possibility of a quick rally. There was a 10% price rise over 24 hours, with volumes increasing by 84%. The average gas price will drop to around 0.0015 Ether after the ETH network is transformed from PoW into PoS. Investors are waiting to hear from the US equities and US dollar markets.
At the time this article was written, ETH was trading for $1,160.
Chart for Ethereum (ETH).
ETH rallied by almost 44% from its low of $881, after taking support at $860 (low of 4th January 2021). The bulls failed to push the price higher than $1,275. However, ETH saw a slight correction and fell to $997.
ETH currently tries to get support at the psychological level $1,000. The asset must close and maintain above $1,275 in order to witness a rally.
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